Let's hope PKF can still do its research, benchmarking and consulting now that it has been gobbled up by a much-larger public company.
PKF Consulting USA, an influential company in the hospitality sector with its consulting and research services, was acquired by real estate services provider CBRE Group, a public company, to bolster its hospitality consulting business.
Terms of the acquisition were not disclosed.
PKF’s lodging industry consulting business and hospitality research publications, including Hotel Horizons and Trends in the Hotel Industry, will continue and will be integrated into CBRE’s hospitality-related business, the companies say.
“David Arnold, Tom Callahan and Mark Woodworth will maintain leadership roles working closely with Scott Biethan, CBRE’s head of Hospitality and Gaming Valuation and Advisory Services,” the companies say.
PKF Consulting USA’s 62 employees will join CBRE Group, a CBRE Group spokesperson says.
“The acquisition of PKF Consulting USA, LLC, a leading advisory, consulting and research firm specializing in the lodging industry, significantly strengthens CBRE’s objective of becoming the top global intermediary in hospitality services,” the spokesperson says.
CBRE Group, which has some 44,000 employees, already had 200 people working in the hospitality sector out of 43 offices around the world.
The CBRE spokesperson says PKF’s analytics, research and consulting services “mixes really well” with CBRE Group’s advisory services and commercial real estate research.
Subscribe to Skift Pro
Subscribe to Skift Pro to get unlimited access to stories like these ($30/month)Subscribe Now
Photo Credit: PKF Hospitality, which was acquired by CBRE Group, will continue to publish "Trends in the Hotel Industry." PKF Consulting USA
A Deaf Traveler Opens Up About Making Travel More Accessible
Accessible travel shouldn't be something to be checked off a list. Instead, Marlene Valle says, it's a human right.
Ruthy Munoz | 15 hours ago
How Far Will Google Take New Hotel and Environment Claims?
It's a nice step for Google to provide more information about hotels' sustainability practices in search results. But will the company have the guts to get "political," in the eyes of some, and push hotel listings higher or lower based on environmental practices?
Dennis Schaal | 22 hours ago
Tripadvisor Forced by Hotel Chains to Reverse Course on Subscriptions to Cash-Back Model
We said all along that major hotel chain buy-in would go a long way toward determining the trajectory of Tripadvisor Plus. Now it appears that big hotel brands may participate, but the subscription program is scaled back and much less compelling.
Dennis Schaal | 3 days ago